Top Technology, Media & Telecom Hedge Funds Report $74B; Philippe Laffont’s Coatue Capital remains on top

February 16th, 2014
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The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top TMT Funds currently manage more than $74 billion in equity assets, allocating $51 billion, or 68% of their equity assets to TMT stocks. Philippe Laffont’s Coatue Capital retains the top spot once again on The Top 50 TMT Hedge Fund List with $7.4 billion devoted to TMT, or almost 76% of equity assets under management. The vast majority of Coatue’s TMT assets fall within Tech and Telecom, including Equinix (EQIX), CBS Corp (CBS) and Time Warner Inc (TWX). Over the last quarter, Coatue sold 1.15 million shares in Apple, previously its 4th largest holding, and purchased more than 9 million shares in Facebook, now a top 5 holding.

The rankings of the remaining top 3 TMT investors, ValueAct Capital Management and Alkeon Capital Management, remained unchanged over the quarter. ValueAct, a GARP investor based out of San Francisco, reported $5.9 billion in TMT assets, amounting to more than half of its total equity assets. ValueAct’s TMT investments are up 10% over the quarter and entirely dedicated to Tech and Telecom. ValueAct retained its high concentration in three very large portfolio holdings, including equity stakes in Microsoft Corp (MSFT), Motorola Inc (MSI) and Adobe Systems Inc (ADBE).

Alkeon reported $3.1 billion in TMT assets for the quarter. Takis Sparaggis’ hedge fund allocated nearly 61% of its equity assets to TMT stocks. Sparaggis, who now has more than twenty years of investment experience, joined the investment community in 1993 and launched Alkeon Capital in 2002, when he spun the firm off from CIBC Oppenheimer. Alkeon’s top TMT holdings include QUALCOMM Inc (QCOM), Baidu Inc (BIDU), Groupon (GRPN) and Synopsys (SNPS). Like Coatue Capital, Alkeon also likes CBS Corp (CBS), allocating $143 million to the media giant.

Once again, the Top 50 TMT Hedge Funds list experienced a fair amount of turnover, as 14 hedge funds on this quarter’s list were not among the top 50 during the last ranking. Among the notable newcomers is Seth Klarman’s The Baupost Group, Crosslink Capital, and John Murphy’s Alydar Capital. Alydar Capital is a long/short hedge fund founded in 2003 and based in Boston.

Ranking Methodology: The Top TMT Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The TMT list includes the top hedge funds that have more than 50% of their U.S. equity assets invested in U.S. listed Technology, Media and Telecom companies. To view the Top TMT Hedge Fund list in its entirety, please visit Hedge Tracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Alkeon Capital Management
Alydar Capital
Coatue Capital
Crosslink Capital
The Baupost Group
ValueAct Capital Management
Related People: David Scully (CMO); George Rizk; Jeffrey W. Ubben; John Murphy; Michael Stark; Panayotis Takis Sparaggis; Philippe Laffont; Seth A. Klarman; Seymour Sy Kaufman; Thomas Laffont; Tom Bliska (PM)
Related Entities: Advantage Advisers Technology Partners; Alkeon Asia Growth Fund; Alkeon Global Alpha Fund; Alkeon Growth Partners; Alpro Technology Fund; Alydar; Alydar Capital QP; Alydar Fund Limited; Alysheba Fund; Alysheba Fund Limited; Alysheba QP; Baupost Capital; Baupost Fund; Baupost Group Inc, Baupost Group LLC; Baupost Value Partners; Blum Capital Partners*; BSP Partners; Coatue Capital; Coatue Offshore funds; Coatue Qualified Partners LP; Crosslink Crossover Fund; Crosslink Omega III Holdings LLC; Crosslink Partners LP; Crosslink Partners Offshore; Crosslink Ventures V LP; Margin of Safety; Margin of Safety; ValueAct AllCap International LP; ValueAct Capital International; ValueAct Capital LLC; ValueAct Holdings GP LLC
Related Article Tags: Investment Management, Fund Manager and General Financial News

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